Wright was knocked out just before half-time in Saturday's 3-1 defeat at Notts County and after lengthy treatment on the pitch was stretchered off to hospital, where he was later released following tests.
U's physio Tony Flynn told the club's official website: "David is okay now. He went to the hospital and was allowed to leave about 8pm on Saturday evening and travelled back with the rest of the squad.
"We will monitor him carefully. He won't play against MK Dons but we will see how he recovers over the next week or so and then make a decision as to when he comes back into training."
Striker Freddie Sears and winger George Porter returned as second-half substitutes at Meadow Lane after injury and suspension respectively and will be hoping to be involved again.
Centre-back Tom Eastman has recently returned for the club's under-21s after a troublesome ankle injury and could make boss Joe Dunne's squad, while fellow centre-back Josh Thompson (hamstring) is being monitored.